18 Month Results
The results for lending through Landbay over the last 18 months are in and they are as follows –
|Expected ROI (Annualised)||3.56%|
|Actual ROI (Annualised)||3.56%|
The ‘Expected ROI’ is ratioed at just over half of the balance on an earlier 3.69% fixed rate and the later 3.49% fixed rate offering. As you can see Landbay delivers bang on expectation for the 2nd time in 3 reviews they’re nothing if not consistent. Other than that there’s not really a lot to say. Not the most exciting platform by any stretch and the rates are the rates, marginally better than a one year saver although at least you can build monthly compound with Landbay.
There’s a recalculation of LIBOR due in January (Landbay recalculate LIBOR on a 3 month average) so I would expect the tracker rate to increase slightly, it’s usually around LIBOR plus 2.50%. I can’t imagine it would go higher than the fixed rate right now though.
At the time of this review Landbay were approaching £250’000’000 in total mortgage lending since they started life in 2010. This is made up of approaching 900 mortgages, c50.00% of which are in London. Landbay has still maintained it’s nil default record to date, an accolade that is increasing rare in the wider P2P sector. There are some whispers of a further crowdfunding round in the offing although it has not yet been confirmed, if it goes ahead it will be Landbays 11th funding round.
Landbay is one of them fire and forget platforms that gets on with the job without fuss and just like a (non UK) train arrives on time every time. The price you pay for consistency and convenience is reflected in the lower end rate on offer compared to the wider P2P sector. So Landbay will remain in my portfolio as a relatively sound foundation to the riskier but higher potential reward platforms I lend through.
Referral link for Landbay
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